A closing down sale at ailing UK retailer Woolworths has started amid concern for around 25,000 jobs at the company.
The retailer has 19 branches in Northern Ireland but it is not clear what will happen to the 400 staff there.
Christmas shoppers are expected to descend in droves on the chain's 813 UK stores to take advantage of what could be some hefty price cuts in toys, entertainment and other items.
Woolworths' administrator Deloitte announced the sale yesterday saying it had failed to find a buyer for the struggling firm.
Deloitte warned that some stores could close before the end of December if no offers for the business emerged.
Woolworths has been in business for almost a century but was forced to call in administrators two weeks ago as debts and losses mounted in a worsening high street climate.
The group employs 30,000 staff, with around 25,000 working in retail.
Sale launched
A massive sale has been launched with up to 50% off toys and gifts to generate cash for creditors. It had previously pledged that stores would carry on trading beyond Christmas while a rescue deal was sought.
Reorganisation services partner Neville Kahn said he was making 'every effort' to convert interest in Woolworths into firm offers.
'While we are still seeking bids from interested parties, Christmas is clearly the busiest time of the year for retailers and it is prudent to do all we can to sell existing stock.
'By moving to a store closing sale and further discounting the stock, we are maximising the sales potential that this period offers.'
Deloitte has already cut 450 jobs at Woolworth's head office and support operations in London and Castleton, Rochdale.
If stores close before the end of December, the administrator said it would consult employees to discuss the support available in the event of redundancies.
Talks have been held with the likes of former Woolworths chief executive Geoff Mulcahy and Dragon's Den star Theo Paphitis, but no deals have been struck.
The complexity of the group's leases and difficulty in restocking the business after Christmas has reportedly put off interested parties.
But rival retailers are understood to have agreed to buy hundreds of store leases - including Tesco, Sainsbury's, Asda and Iceland - as many of the group's outlets have planning permission to sell food.
Some employees could subsequently find jobs with the new owners.
Woolworths' wholesale music, DVD and books distribution business, Entertainment UK, is also in administration, but its 2Entertain media publishing joint venture with BBC Worldwide - 40% owned by Woolworths - is still trading.
